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Pretty much everything Bono is involved with turns out to be a total waste. Not really his fault, I'm sure his heart in the right place, but the people around him just waste all the money.
As for the Red Cross CEO, sure they might be able to find a guy to do it for half that much, but what's the real payoff if they go on the cheap? You take a huge risk with a worldwide operation to save a few hundred thousand? It's simply not worth it if you know you have a solid guy for $600K. And as people have mentioned, it's a very small salary for a CEO and it comes with no stock buys or options or anything else which makes it even smaller.
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